Iowa Public Employees’ Retirement System, Des Moines, hired IW Financial, an ESG consulting firm, to assist in implementing the state’s Iran divestment law, according to Karl Koch, IPERS chief investment officer.
The hiring is pending contract negotiations.
The duties include helping identify companies in the $21.7 billion system’s investment portfolio with ties to Iran and possibly engaging the companies about ceasing activity in the country. The law requires selling direct investments in scrutinized companies, if engagement efforts it mandates fail to persuade companies to end such business activities.
The divestment legislation was signed into law by Gov. Terry Branstad on April 20.
The system issued an RFP in the spring.